Business
Minister Unveils New Housing Plan
The Minister of Land, Housing and Urban Development, Ms Amal Pepple, has said commercialisation of the Federal Housing Authority (FHA) was aimed at boosting the housing sector.
The Minister spoke in Abuja at the 2013 Ministerial Platform last Thursday.
She said that the decision taken by the National Council on Privatisation (NCP) to address the huge housing deficit in the country was still on course.
The Council (NCP) has approved the commercialisation of the Federal Housing Authority (FHA) and I was appointed to chair the steering committee to work out details of the exercise. This was one of the decisions taken at the third meeting of the council in 2013 which was held on May 9 at the Presidential Villa,’’ she said.
She said that the objective of the Federal Government to make affordable housing available for its low-income earners was yet to be achieved.
“Since inception about 40 years ago, the FHA has been able to build only about 37,000 housing units in eighty (80) estates across the country.
“This is an average of less than 1,000 houses per annum, currently, the housing deficit in Nigeria is estimated at 17 million units,” she said.
The minister said the commercialisation of the FHA would address historical operating losses, teeming legacy debts and poor Internally Generated Revenue (IGR) base.
She said that the process would curb inability to effectively function without government funding and borrowing from other institutions as a means of survival.
The minister said it would address poor financial management and corporate reporting practise, poor Information Technology, infrastructure, corporate affairs framework and political interference and meddling.
She however, noted that lack of transparency and attendant corruption would be a thing of the past.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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